TOST - Toast Stock Has 25% Downside According to 1 Wall Street Analyst
2024-04-15 14:17:16 ET
A cautionary note for all the stock analyst watchers out there -- a price target increase does not automatically mean a buy recommendation.
A notable example of this dichotomy can be seen in a change one pundit made to his price target on specialty tech stock Toast (NYSE: TOST) . The analyst is concerned that the company will face mounting competition, and will struggle to win the large clients it needs to power key fundamentals higher.
The bearish booster is Wells Fargo Securities analyst Jeff Cantwell. In mid-April, while bumping his Toast fair value estimation $2 higher to $17 per share, he nevertheless reiterated his recommendation of underweight (sell, in other words). The price target (which the analyst expects will be reached within the next 12 months) is 25% below the stock's current price.
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Toast Stock Has 25% Downside, According to 1 Wall Street Analyst